Finnish fintech startup Cooler Future recently raised €1.4 million to continue developing what it says will be Europe’s first climate impact investing app, where users can track the environmental impact of each euro invested. The round saw investments from Lifeline Ventures, Nordic Makers, Gary Lin (Purple Orange Ventures) and Patrick Schmidt (CEO at Global Fashion Group). The app will offer an eco-friendly portfolio of assets. Everyday investors can track the CO2 impact of their investments alongside their financial returns. Eventually the fintech startup will offer a globally diversified fund that invests exclusively in sustainable companies and projects committed to cutting down emissions. Cooler Future’s fund will use both traditional and modern analysis to decide which companies to back, but it hopes this climate-conscious approach to investing spreads far beyond its own portfolio. “Redirecting investor attention to companies that actively reduce carbon emissions is a conversation changer for climate change, however there is no widespread public awareness about that yet,” said Matti Rönkkö, co-founder and CEO of the Nordic startup. Indeed, the company wants to make impact investing the new status quo, across the board. “Our mission is to introduce and standardize the climate impact metric in the investment industry as the third metric next to traditional risk & return,” Rönkkö added. He and Moaffak Ahmed (a partner at Nordic Makers) founded the startup last year, opening offices in Helsinki and Berlin. The digital investment app has not yet launched but the waiting list is open.
Images courtesy of Cooler Future